The Maldives Inland Revenue Authority (MIRA) has revealed that the state has not received USD 650 million in both tax and non-tax revenue so far.
The latest quarterly report from MIRA show that as of June, USD 360 million of the USD 650 million is tax revenue owed by state-owned enterprises (SOEs) and private companies. There is also USD 300 million in outstanding non-tax revenue.
The report shows that the outstanding revenue includes, USD 56 million from Income Tax, USD 84 million from TGST, USD 156 million from GGST, and USD 60 million from other taxes. The non-tax revenue owed includes USD 300 million from resort rents and USD 12 million from other non-tax sources.
The report also shows that SOEs have not yet received USD 104 million in both tax and non-tax revenue. It includes USD 104 million in outstanding taxes and USD 1.4 million in non-tax income. MIRA has also granted waivers for penalties in 1,029 tax cases during the second quarter, totaling approximately USD 4.1 million.
The government has faced significant delays in receiving tax and penalty payments. The information about tax evaders has been made public, and some cases have been taken to court. MIRA collected USD 41 million from these legal cases during the first quarter.